Bond Calculator

October 25, 2012
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The accounting department oversees the TUPA computerized property management system, which is a state of the art Nicor System, (the same as used by Investec) in order to cater for all aspects of Property Management, Credit Control, Space Management and Cash Management. The system ensures tracking of all vacancies, listing pertinent details such as rentals and operating cost rates per m2 and provides the automatic escalation of rentals etc. with supporting reports for renewals, options or rent review anniversaries. It raises recurring charges automatically until flagged to stop, produces all accounting records i.e. debtors statements, owners statements, rent and levy rolls and related general ledger and building data reports. All computer modules are fully integrated which means data need only be captured once, resulting in the relevant information being updated immediately. This ensures that all accounts and building information are always up to date and enables TUPA to provide its clients with up to minute details of all aspects of their accounts, e.g. reports on debtors, creditors and vacancies.

In addition, the system utilizes the electronic banking facility offered by the Automated Clearing Bureau. Hereby the tenants accounts are updated automatically every morning on the Nicor System directly from the bank system.

The collections and disbursements on behalf of the clients are made through a Trust Account registered in Terms of Section 32 (1) of the Estate Agency Affairs Act, 1976 (No. 112 of 1976).

Some of the basic functions controlled by the Accounting Department are:

The administration and refund of tenant’s deposits, which are held in a Trust Account in Terms of Section 32 (2) of the Estate Agency Affairs Act, 1976.

The monitoring of controls for:

The raising of rentals, utilities and other charges against tenants accounts.

The collection and receipt of amounts due by tenants

The exercising of reasonable credit control

The monitoring and payment, from available funds, of approved expenses incurred in the administration of a client’s property.

The scrutiny of Municipal Accounts to ensure that the charges made is in terms of the applicable Municipal Tariffs.

On the 18th of each month, or if preferred at month end, a detailed debtors transaction listing and statement of current expenditure together with supporting vouchers and disbursement cheques are submitted to clients.
This functionality includes the following features:

General Ledger

All major transaction capture options are offered

Numerous and extensive reporting options, including management reports are contained in the system.

Cash Book

Bank Statements may be captured manually, or downloaded electronically for bank reconciliation purposes.